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Dushnisky cashes in AngloGold shares

Outgoing AngloGold Ashanti CEO Kelvin Dushnisky, 56, has cashed in more than US$572,000 in shares ahead of his departure on September 1.
Dushnisky cashes in AngloGold shares Dushnisky cashes in AngloGold shares Dushnisky cashes in AngloGold shares Dushnisky cashes in AngloGold shares Dushnisky cashes in AngloGold shares

Outgoing AngloGold Ashanti CEO Kelvin Dushnisky

Staff reporter

The miner said in a filing yesterday Dushnisky had sold 20,000 American Depositary Receipts in an on-market sale on the New York Stock Exchange on August 13, with a transaction value of $572,116 before costs.

The price per share was $28.6058.

He had held 131,730 ADRs at December 31, according to the company's annual report.

Fellow executives Graham Ehm and Tirelo Sibisi had sold 25,000 and 43,000 JSE-listed shares respectively last week, with transaction values of about R129,000 and R222,000 (US$7,400 and $12,700) respectively.

Toronto-based Dushnisky had announced he would step down last month after two years in the role with the South Africa-headquartered gold miner, with CFO Christine Ramon appointed interim CEO.

Dushnisky had reiterated on a conference call earlier this month his decision to resign was a personal one to be closer to family. 

Bloomberg had reported Dushnisky was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer Barrick Gold which he hadn't initially disclosed, although the company told the wire service it did not threaten an investigation into a bonus nor request the resignation.

AngloGold closed up 4.7% in New York yesterday to $29.72, capitalising it at $12.4 billion.